MUNICIPAL
PUBLIC QUESTION #1Authorize the Acquisition of Real Property for Open
Space and Farmland Preservation Purposes.

Interpretive
Statement: A "yes" vote would support Franklin
Township's continuing effort to preserve open space and rural character.
A "yes" vote would give the Township Committee the authority
to bond up to $3.3 million dollars for the purchase and preservation of
145 acres of prime farmland in Cherryville that will otherwise become
a 16 lot major subdivision. Although the Committee has no intention to
actually bond for $3.3 million, it is required by law to advertise for
the full purchase price of the property. The Finance Plan is that up to
$2 million dollars of the total funds used to make the purchase will be
reimbursed to our Township by State and County preservation agencies as
well as other non-profit groups and by monies currently held in the Township's
own Open Space Trust Fund and Capital Improvement accounts. The newly
preserved farm will then be sold at auction to gain further compensation
to fRanklin's taxpayers. The farm's auction is expected to yield between
$800,000 and $1.3 million in cash, in addition t o the above funding.
The township Committee's goal is to have from85% to 100% of the total
amount financed without actually boding. This goal is consistent with
the Committee's plan to make land preservation economically viable in
Franklin and to create no additional tax burden fro preserving land. Further,
this plan prevents future tax burden on residents in the form of additional
school taxes, necessary for education of students who would otherwise
live on such lad if developed.